Harsha says Sri Lanka at crossroads, explains IMF’s 16-point prescription for reform
In a scathing indictment of Sri Lanka's governance landscape, the International Monetary Fund (IMF) has handed down a damning verdict. MP Harsha de Silva, …
Kasturi Chellaraja to join a global firm after resigning from Hemas Holdings
Hemas Holdings PLC, a leading Sri Lankan conglomerate, today announced the resignation of Ms. Kasturi Chellaraja Wilson from her position as Group Chief …
SEC urges Compliance Officers to play a more effective role
As part of their continuing efforts to strengthen market standards and investor confidence, officials of the Securities and Exchange Commission of Sri Lanka …
Fitch Affirms Ratings on 15 Sri Lankan Banks; Removes Watch Negative; CBL on Negative Outlook
Fitch Ratings has affirmed Bank of Ceylon's Long-Term Local-Currency Issue Default Rating (IDR) at 'CCC-' and removed it from Rating Watch Negative (RWN). The …
CBSL reduces policy rates by 1-pct to accelerate downward adjustment in lending rates
The first monetary policy review by the Monetary Policy Board under the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA) was held on 04 October 2023. In …
SLT-DIGITAL services and Surge Global forge strategic partnership
SLT-DIGITAL Services, the marketing services and digital engagement solutions arm of SLT-MOBITEL group, has entered into a strategic partnership with Surge …
World Bank expects solid growth but risky outlook for South Asia
South Asia is expected to grow by 5.8 percent this year—higher than any other developing country region in the world, but slower than its pre-pandemic pace …
Integrated water resources development: Way forward for Sri Lanka to tackle climate crisis
The last time El Niño affected Sri Lanka, between 2016 and 2017, more than 2 million people were affected—first by flooding and landslides, and then by a …
David Cameron kicks off Port City Colombo’s global investment drive
Representatives of top corporations in the UAE, accompanied by high-potential investors, property developers, hotel owners, and leaders in the hospitality and …
Sri Lanka slips in economic freedom: Report
Lanka—Sri Lanka ranks 116 out of 165 jurisdictions included in the Economic Freedom of the World: 2023 Annual Report, released by Advocata Institute in …
Fitch Upgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘CCC-‘ from Restricted Default
Fitch Ratings has upgraded Sri Lanka's Long- Term Local-Currency Issuer Default Rating (IDR) to 'CCC-' from 'RD' (Restricted Default). Fitch typically does not …
Global accounting body president in Colombo to inaugurate CA Sri Lanka’s National Conference
President of the International Federation of Accountants (IFAC), Asmâa Resmouki, will arrive in Sri Lanka on a special invitation extended to her by the …
CCPI-based headline inflation decreased to 1.3-pct in September 2023
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 decreased to 1.3% in September 2023 …
We will continue discussions with the goal of reaching a staff-level agreement in the near term: IMF Staff Mission
The team will continue its discussions in the context of the First Review with the goal of reaching a staff-level agreement in the near term, says the …
Economic Commission to replace BOI; new law to transform Port City into Colombo Financial Zone: President
President Ranil Wickremesinghe, in his address at the 2023 Commercial Mediation Symposium at Colombo's Hilton Hotel, emphasized the need for a cultural shift …
HIP supplies over 80-pct marine bunkers to Sri Lankan market
The Hambantota International Port Group (HIPG) has benchmarked a 500,000 ton volume in their bunkering business during the first eight months of 2023. The …
Sri Lanka local currency ratings raised to ‘CCC+/C’ from ‘SD/SD’; Outlook stable
S&P Global Ratings today raised its long- and short-term local currency sovereign credit ratings on Sri Lanka to 'CCC+/C' from 'SD/SD' (selective default). …
Sinopec pledges to fuel Sri Lanka as it commences operations
Sinopec announced its official entry into Sri Lanka's dynamic fuel retail market at the felicitation event for local distributors held on the 25 th of …
Sri Lanka’s merchandise exports surpassed USD 1 billion mark in August
Sri Lanka’s merchandise exports increased by 6.98 % to US$ 1,091.6 Million in August 2023 compared to July 2023 as per the provisional data released by the …
Import restrictions, except for vehicles to be lifted by next month: Minister
Finance State Minister Shehan Semasinghe says that import restrictions on goods, except for vehicles, will be lifted by next month with the goal of stabilizing …